What is CTS compliant demand draft. And how to get it sir .plz tell me for comedk
Answer (1)
12th Jul, 2020
Hello Akash,
CTS demand draft refers to cheque truncation system i.e used for fast cheques clearing. It is based on a cheque truncation or online image based where cheque images and magnetic ink character recognition (MICR) data are captured at the collecting bank branch and transmitted.
For this you have to visit your bank and ask them to provide with that. Every bank has different process .
Hope it will help!
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